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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash-to-Debt 1.97
NAS:IBCP's Cash-to-Debt is ranked higher than
51% of the 1482 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.92 vs. NAS:IBCP: 1.97 )
Ranked among companies with meaningful Cash-to-Debt only.
NAS:IBCP' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.09  Med: 0.28 Max: 4.08
Current: 1.97
0.09
4.08
Equity-to-Asset 0.10
NAS:IBCP's Equity-to-Asset is ranked higher than
50% of the 1484 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. NAS:IBCP: 0.10 )
Ranked among companies with meaningful Equity-to-Asset only.
NAS:IBCP' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.04  Med: 0.07 Max: 0.11
Current: 0.1
0.04
0.11
Interest Coverage 4.78
NAS:IBCP's Interest Coverage is ranked higher than
79% of the 1576 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.67 vs. NAS:IBCP: 4.78 )
Ranked among companies with meaningful Interest Coverage only.
NAS:IBCP' s Interest Coverage Range Over the Past 10 Years
Min: 0.09  Med: 2.96 Max: 5.02
Current: 4.78
0.09
5.02
Piotroski F-Score: 6
Beneish M-Score: 0.81
WACC vs ROIC
3.65%
12.12%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating Margin % 26.98
NAS:IBCP's Operating Margin % is ranked lower than
60% of the 1497 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 30.60 vs. NAS:IBCP: 26.98 )
Ranked among companies with meaningful Operating Margin % only.
NAS:IBCP' s Operating Margin % Range Over the Past 10 Years
Min: -55.42  Med: 11.39 Max: 26.98
Current: 26.98
-55.42
26.98
Net Margin % 18.67
NAS:IBCP's Net Margin % is ranked lower than
62% of the 1496 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.84 vs. NAS:IBCP: 18.67 )
Ranked among companies with meaningful Net Margin % only.
NAS:IBCP' s Net Margin % Range Over the Past 10 Years
Min: -57.34  Med: 11.13 Max: 63.12
Current: 18.67
-57.34
63.12
ROE % 9.20
NAS:IBCP's ROE % is ranked higher than
59% of the 1495 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.26 vs. NAS:IBCP: 9.20 )
Ranked among companies with meaningful ROE % only.
NAS:IBCP' s ROE % Range Over the Past 10 Years
Min: -62.04  Med: 5.82 Max: 44.77
Current: 9.2
-62.04
44.77
ROA % 0.92
NAS:IBCP's ROA % is ranked higher than
55% of the 1504 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.87 vs. NAS:IBCP: 0.92 )
Ranked among companies with meaningful ROA % only.
NAS:IBCP' s ROA % Range Over the Past 10 Years
Min: -3.05  Med: 0.56 Max: 3.66
Current: 0.92
-3.05
3.66
3-Year EBITDA Growth Rate 15.50
NAS:IBCP's 3-Year EBITDA Growth Rate is ranked higher than
74% of the 1210 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.10 vs. NAS:IBCP: 15.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
NAS:IBCP' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -83.4  Med: 15.5 Max: 71.1
Current: 15.5
-83.4
71.1
3-Year EPS without NRI Growth Rate -33.40
NAS:IBCP's 3-Year EPS without NRI Growth Rate is ranked lower than
94% of the 1174 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.30 vs. NAS:IBCP: -33.40 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
NAS:IBCP' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -58.1  Med: 13.8 Max: 141.6
Current: -33.4
-58.1
141.6
GuruFocus has detected 6 Warning Signs with Independent Bank Corp (Ionia MI) $NAS:IBCP.
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» NAS:IBCP's 10-Y Financials

Financials (Next Earnings Date: 2017-04-25)


Revenue & Net Income
Equity & Asset
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

IBCP Guru Trades in Q1 2016

Jim Simons 572,600 sh (+9.53%)
» More
Q2 2016

IBCP Guru Trades in Q2 2016

Jim Simons 586,500 sh (+2.43%)
» More
Q3 2016

IBCP Guru Trades in Q3 2016

Jim Simons 664,500 sh (+13.30%)
» More
Q4 2016

IBCP Guru Trades in Q4 2016

Jim Simons 743,600 sh (+11.90%)
» More
» Details

Insider Trades

Latest Guru Trades with IBCP

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Business Description

Industry: Banks » Banks - Regional - US    NAICS: 522110    SIC: 6022
Compare:NAS:CARO, NAS:ACBI, NAS:SNBC, NAS:VBTX, NAS:AROW, NAS:FRBK, OTCPK:HBIA, NAS:HEOP, NAS:PUB, NAS:HTBI, NAS:FCBC, NAS:NCBS, NAS:BMRC, NAS:TBK, NAS:NCOM, NAS:BHBK, NAS:ABTX, AMEX:BHB, OTCPK:FMCB, NAS:FMBH » details
Independent Bank Corp (Ionia MI) is a bank holding company. It offers products & services, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services.

Independent Bank Corp (Ionia MI) was incorporated under the laws of the State of Michigan on September 17, 1973, for the purpose of becoming a bank holding company. It is registered under the Bank Holding Company Act of 1956 and owns the outstanding stock of Independent Bank which is organized under the laws of the State of Michigan. The Bank's activities cover all phases of banking, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services. Mepco Finance Corporation, a subsidiary of its Bank, acquires and services payment plans used by consumers to purchase vehicle service contracts provided and administered by third parties. In addition, the Bank offers title insurance services through a separate subsidiary and provides investment and insurance services through a third party agreement with Cetera Investment Services LLC. The Company's main markets are the rural and suburban communities across Lower Michigan that is served by its Bank's branch network. The Bank serves its markets through its main office and a total of 62 branches, 1 drive-thru facilities and 8 loan production offices. The Bank competes with other commercial banks, savings banks, credit unions, mortgage banking companies, securities brokerage companies, insurance companies, and money market mutual funds. The Company is subject to regulation by, the Federal Reserve under the Bank Holding Company Act.

Ratios

vs
industry
vs
history
PE Ratio 18.83
IBCP's PE Ratio is ranked lower than
72% of the 1638 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.36 vs. IBCP: 18.83 )
Ranked among companies with meaningful PE Ratio only.
IBCP' s PE Ratio Range Over the Past 10 Years
Min: 1.71  Med: 16.45 Max: 255.67
Current: 18.83
1.71
255.67
Forward PE Ratio 16.64
IBCP's Forward PE Ratio is ranked lower than
66% of the 407 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 16.26 vs. IBCP: 16.64 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 18.83
IBCP's PE Ratio without NRI is ranked lower than
71% of the 1595 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.62 vs. IBCP: 18.83 )
Ranked among companies with meaningful PE Ratio without NRI only.
IBCP' s PE Ratio without NRI Range Over the Past 10 Years
Min: 1.71  Med: 16.45 Max: 255.67
Current: 18.83
1.71
255.67
Price-to-Owner-Earnings 16.11
IBCP's Price-to-Owner-Earnings is ranked lower than
58% of the 860 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.74 vs. IBCP: 16.11 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
IBCP' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 3.66  Med: 12.87 Max: 115.33
Current: 16.11
3.66
115.33
PB Ratio 1.70
IBCP's PB Ratio is ranked lower than
81% of the 1552 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.17 vs. IBCP: 1.70 )
Ranked among companies with meaningful PB Ratio only.
IBCP' s PB Ratio Range Over the Past 10 Years
Min: 0.18  Med: 0.99 Max: 2.48
Current: 1.7
0.18
2.48
PS Ratio 3.55
IBCP's PS Ratio is ranked lower than
58% of the 1539 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.41 vs. IBCP: 3.55 )
Ranked among companies with meaningful PS Ratio only.
IBCP' s PS Ratio Range Over the Past 10 Years
Min: 0.03  Med: 1.68 Max: 4.24
Current: 3.55
0.03
4.24
Price-to-Free-Cash-Flow 21.20
IBCP's Price-to-Free-Cash-Flow is ranked lower than
81% of the 854 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.08 vs. IBCP: 21.20 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
IBCP' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 0.23  Med: 12.47 Max: 137.51
Current: 21.2
0.23
137.51
Price-to-Operating-Cash-Flow 18.11
IBCP's Price-to-Operating-Cash-Flow is ranked lower than
80% of the 920 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.36 vs. IBCP: 18.11 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
IBCP' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 0.19  Med: 8.77 Max: 94.34
Current: 18.11
0.19
94.34
EV-to-EBIT 11.62
IBCP's EV-to-EBIT is ranked higher than
51% of the 1204 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.59 vs. IBCP: 11.62 )
Ranked among companies with meaningful EV-to-EBIT only.
IBCP' s EV-to-EBIT Range Over the Past 10 Years
Min: -117.9  Med: 9.2 Max: 256.8
Current: 11.62
-117.9
256.8
EV-to-EBITDA 10.03
IBCP's EV-to-EBITDA is ranked higher than
53% of the 1219 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.36 vs. IBCP: 10.03 )
Ranked among companies with meaningful EV-to-EBITDA only.
IBCP' s EV-to-EBITDA Range Over the Past 10 Years
Min: -74.6  Med: 8.6 Max: 184.3
Current: 10.03
-74.6
184.3

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.80
IBCP's Dividend Yield % is ranked lower than
72% of the 2308 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.66 vs. IBCP: 1.80 )
Ranked among companies with meaningful Dividend Yield % only.
IBCP' s Dividend Yield % Range Over the Past 10 Years
Min: 0.46  Med: 2.75 Max: 19.77
Current: 1.8
0.46
19.77
Dividend Payout Ratio 0.32
IBCP's Dividend Payout Ratio is ranked higher than
51% of the 1308 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.33 vs. IBCP: 0.32 )
Ranked among companies with meaningful Dividend Payout Ratio only.
IBCP' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.23  Med: 0.31 Max: 1.91
Current: 0.32
0.23
1.91
Forward Dividend Yield % 2.04
IBCP's Forward Dividend Yield % is ranked lower than
71% of the 2276 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.87 vs. IBCP: 2.04 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 1.80
IBCP's 5-Year Yield-on-Cost % is ranked lower than
77% of the 2646 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.10 vs. IBCP: 1.80 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
IBCP' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.46  Med: 2.75 Max: 19.77
Current: 1.8
0.46
19.77
3-Year Average Share Buyback Ratio 2.30
IBCP's 3-Year Average Share Buyback Ratio is ranked higher than
92% of the 997 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.60 vs. IBCP: 2.30 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
IBCP' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -55.9  Med: -2.3 Max: 3
Current: 2.3
-55.9
3

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 1.82
IBCP's Price-to-Tangible-Book is ranked lower than
76% of the 1534 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.24 vs. IBCP: 1.82 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
IBCP' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.52  Med: 1.62 Max: 4.03
Current: 1.82
0.52
4.03
Price-to-Intrinsic-Value-Projected-FCF 0.87
IBCP's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
60% of the 895 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.81 vs. IBCP: 0.87 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
IBCP' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.07  Med: 0.88 Max: 3.5
Current: 0.87
0.07
3.5
Price-to-Median-PS-Value 2.12
IBCP's Price-to-Median-PS-Value is ranked lower than
93% of the 1429 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.18 vs. IBCP: 2.12 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
IBCP' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.03  Med: 1.65 Max: 4.45
Current: 2.12
0.03
4.45
Price-to-Graham-Number 1.23
IBCP's Price-to-Graham-Number is ranked lower than
74% of the 1344 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.96 vs. IBCP: 1.23 )
Ranked among companies with meaningful Price-to-Graham-Number only.
IBCP' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.42  Med: 1.18 Max: 5.2
Current: 1.23
0.42
5.2
Earnings Yield (Greenblatt) % 8.63
IBCP's Earnings Yield (Greenblatt) % is ranked higher than
62% of the 1560 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.77 vs. IBCP: 8.63 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
IBCP' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 0.4  Med: 10 Max: 485.1
Current: 8.63
0.4
485.1
Forward Rate of Return (Yacktman) % 60.28
IBCP's Forward Rate of Return (Yacktman) % is ranked higher than
95% of the 885 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.32 vs. IBCP: 60.28 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
IBCP' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -206.6  Med: 0.4 Max: 108.4
Current: 60.28
-206.6
108.4

More Statistics

Revenue (TTM) (Mil) $121.9
EPS (TTM) $ 1.06
Beta0.06
Short Percentage of Float0.52%
52-Week Range $13.42 - 22.40
Shares Outstanding (Mil)21.33

Analyst Estimate

Dec17 Dec18
Revenue (Mil $)
EPS ($) 1.18 1.29
EPS without NRI ($) 1.18 1.29
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($) 0.40 0.42
» More Articles for IBCP

Headlines

Articles On GuruFocus.com
Independent Bank Corp. Reports Operating Results (10-K) Mar 10 2011 
Independent Bank Corp. Reports Operating Results (10-Q) Nov 04 2010 
Independent Bank Corp. Reports Operating Results (10-Q) Aug 06 2010 
Independent Bank Corp. Reports Operating Results (10-Q) May 11 2010 
Independent Bank Corp. Reports Operating Results (10-Q) Nov 06 2009 
Independent Bank Corp. Reports Operating Results (10-Q) May 08 2009 

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